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of not only regional security in asia, but also global security. >> i'd like to follow up on missile defense and dig a little deeper if possible. how concerned are you about the potential loss of the use of s.d.s. has an asset in your region, and the fact that the missile defense program here in the states hasn't produced the successful intercept since 2008. as a follow-on to that, can you go into what you think your vision should be for adapting the p.a.a. that's in europe into asia? leaders here have said they would like to do some sort of p.a.a. in asia. >> well, you ask a lot of questions in there. >> well, let me talk about the s.b.x. in general. it was built as a research platform. it wasn't designed to be in a long-term baltic missile ark terk tour t. still has benefit in research and development, but since it was built, my estimation is that the overall sophistication of the keanlts have grown and grown globally so that the need to have s.b.x. in that role has diminished over time because other capabilities are mature enough to be able to not have to have it. as far as the ability fo
that we double defense, a tree today whole new category of spending called homeland security, went to war twice totally on a credit card, created a brand new entitlement medicare part d, and we have the aging of a population that means the entitlement programs that have been wonderfully successful, those of us were willing to say we need to entitlement reform, not because medicare and social security have not been successful, they have been, and consequently, all we are living a lot longer, which is good, but it does mean the math -- when i was a kid, 16 people were working paying for everyone retiree, now is 3 to 1, and in a decade will be 2 to 1, means we have to make adjustments. the math deniers around that i have a hard time grappling with. >the sense in-bowles -- simpson- bowles gang had $2.40 -- $ 2. tralee4 in in revenue. if we think we need to go bigger, which i do believe -- $1.6 trillion is still only 1/3 of what we had in the revenue line in the 90's. in my memory, the american economy did pretty darn well. i do think there are ways to get there. on entitlements, i find we hav
defense authorization act now that the senate has completed its work. as was announced last week, the house has a number of outstanding legislative items that we must resolve and first amongst them is the so-called fiscal cliff. though the house's targeted adjournment set in october of last year was december 14, that is no longer the case. instead members are advised that the house will now be in session the week of december 17, exact days will be announced next week. members are further reminded that the house will not adjourn the 112th congress until a credible solution to the fiscal cliff has been found. i thank the gentleman and yield back. mr. hoyer: i thank the gentleman for his comments. i thank him for the early notice on next friday. mr. speaker, the house is still not in order. the speaker pro tempore: the house will come to order. mr. hoyer: i thank the speaker. first, mr. leader, if i could, we have the ending next thursday, so -- i want to clarify pour members so that they know. we will not be in session next friday. is that accurate? mr. cantor: mr. speaker, i'd say
defense, fund our safety nets, and pay down our debt. and we are determined to remain an exceptional nation, this is the only way forward. if we embrace it, the promise of the 21st century is extraordinary. the united states will soon be the world's largest energy producer. it will allow manufacturers to return in force to our shores again. american innovation promises to revolutionize healthcare, communication, and transportation. every year millions of people all around the world are entering the middle class. they are not able to afford the things we built -- now of the -- able to afford the things we built. i have heard it suggested that the problem is that the american people have changed. too many people want things from government. i'm still convinced that the overwhelming majority of our people just want what my parents had -- a chance, a real chance to earn a good living and provide better opportunities for their children. a few weeks ago i was giving a speech at a fancy hotel in new york city. when i arrived in the banquet hall, i was approached by a group of u employees li
of the defense finance committee. we will talk about the budget negotiations going on now and the fiscal cliff. but what is really important is that senator baucus and the group working on tax reform will be some of the lead folks who are shepherding whatever kind of framework, hopefully, conduct of the fiscal cliff to help develop the beat goes on how to deal with tax reform. we lucky to have with us today chairman baucus. he has been thinking about these ideas for quite some time. he has a tremendous amount of expertise. he will talk about where the situation is. thank you, senator. [applause] >> thank you, maya. thank you to everyone for adding this together. very interesting set up. i do not know if there will be darts or spitballs on my back. it is good to be here and help in whatever way i can. first, i would like to commend erskine bowles and simpson further laserlike focus on this. you are engaging the american. you have drawn attention to the fiscal challenges that are threatening our future. many here today are proponents of the simpson-bowles plan. i have served with senator simpson
have a northeastern, our defenses are so down that it would be like a person's immune system being susceptible to any type of illness. thirdly, we come with less than 30 days to the end of the congress. have to be done. i feel like i have to be houdini to accomplish this. we will do this. i look forward to your work and help. thank you for your indulgence. >> i would note that the senator will chair a subcommittee in new jersey next monday, december 10, on super storm standee pierre -- sandy. >> thank you for joining us. i would like to understand better an aspect of the review. the question that i have arises from the interest-rate assumptions and the environment that is used to determine the prevailing view about the value of the mutual mortgage insurance fund. more 6 -- more specifically, you observe the fact that, the lower the interest-rate environment, -- he walked through the mechanisms by which lower interest rates, while good for the economy overall, tend to have an adverse affect on the fund. my understanding is the review contemplates a low interest-rate environment. in
Search Results 0 to 5 of about 6

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